Vietnam plans carbon trade exchange by 2028

Vietnam is set to establish a carbon trade exchange by 2028, as outlined in a draft project developed by the Ministry of Natural Resources and Environment. This initiative aims to facilitate the trading of carbon credits between the country and regional and international markets, bolstering efforts to reduce greenhouse gas emissions. Vietnam plans to pilot the carbon credit market in 2025, with a focus on greenhouse gas reduction, ozone layer protection, and carbon market development. The project also entails the development of regulations for carbon credit management, greenhouse gas emission quotas, and the operation of the carbon credit market. Vietnam’s entry into the carbon market will support its climate commitments, including the goal of achieving net zero emissions by 2050, as agreed upon at the 26th United Nations Climate Change Conference of the Parties (COP26).